What are private owners doing for their renters?

[Marionnette]

My daughter’s private owner couldn’t do anything as resort is open and points expire on 7/31. He got full payment and she got nothing. We will never rent again I think there was something we could have done earlier, but it’s too late now. He kept telling her he couldn’t do anything.

I think that when you get burned like that, you’re going to be more reluctant to try the same thing again. Renting has always had these caveats. Renters are just now learning how risky it can be.

It sounds like the owner has an August use year if he says that nothing can be done. He cannot bank those points into the next UY if he were to cancel the reservation and they will be lost effective 7/31. The only thing that he could even try to do is to re-rent the points at a drastically reduced rate and agree to refund whatever he can glean from the new reservation. Unfortunately, the rental market is flooded with owners dumping their points for a fraction of their value just so that they don’t go to waste. And it would require an extra effort on his part to deal with a new renter.

I feel sorry for your daughter but I’m not sure what you expect the owner to do? Should he refund all her money and take the financial hit because she isn’t comfortable traveling to Disney?

 

[tjkraz]

It would have been nice if my daughter had received the same information I learned here on this forum. Earlier in the year there were other options.

Assuming they are August 2019 points (they could also be 2018 points), the ONLY other option that ever existed for the owner was to bank the points into 2020. That would have had to be done by March 31, 2020. I'm not sure it's fair to hold the owner responsible for failing to take such a drastic step within two weeks after the parks initially closed.

 

[SirDuff]

My daughter’s private owner couldn’t do anything as resort is open and points expire on 7/31. He got full payment and she got nothing. We will never rent again I think there was something we could have done earlier, but it’s too late now. He kept telling her he couldn’t do anything.

That's not entirely fair to the owner. In your other posts, you said that he did change once - to a time (this month) when the parks and resorts are open, your daughter just changed her mind. Would it have been nice if he went to the trouble of changing for a second time (with no guarantee that your daughter wouldn't ask for a third change)? Sure. But to act as if he refused to help her at all is untrue and not fair.

https://www.disboards.com/threads/c...ll-ms-on-behalf-of-my-daughter.3807679/page-2

 

[suebeelin]

Thank you all. Please note my renter points expire on January 31st, 2021. February use year.

I’ve offered to roll the points into RCI.

I’ve also offered to re rent out the points at reduced rate and give them the proceeds (albeit they will likely experience a loss, but not total).

In addition, I’ve also used more points (25ish pts) than the original reservation to secure them a 2bd at beach club (it was originally 2 studios at BWV). They have not paid me yet for the extra points.

I do not think it’s fair for the owner to take a loss; I stayed in a studio instead of the usual 1 or 2bd so that we could have excess points to rent. These points could have been used for a family trip instead when we had gone in October.

I did not want to use the extra points that could be banked, but felt obligated to help. The 2bd bcv is more points than 2 studios at BWV.

I cannot make the decision for my renters on whether to go, roll points into RCI, or mitigate losses by re renting at a lower rate.

 

[jerseygal]

There has always been risks by renting points! I would have to guess that many renters jump into contracts without reading the very fine points of a contract.

 

[MilwaukeeMom]

That's not entirely fair to the owner. In your other posts, you said that he did change once - to a time (this month) when the parks and resorts are open, your daughter just changed her mind. Would it have been nice if he went to the trouble of changing for a second time (with no guarantee that your daughter wouldn't ask for a third change)? Sure. But to act as if he refused to help her at all is untrue and not fair.

https://www.disboards.com/threads/c...ll-ms-on-behalf-of-my-daughter.3807679/page-2

You are correct, he did move the reservation once so he helped her.

 

[Sandisw]

You are correct, he did move the reservation once so he helped her.

I am going to add another piece, I know from an owners standpoint with an upcoming trip for a renter through a broker, I want to be done with it so even if asked to move It, I won’t.

This whole situation has made a lot come to light and I do think some owners, like renters, will decide not to do it again.

Again, sorry that this particular situation hasn’t worked out for your DD.

 

[Deb & Bill]

Thank you all. Please note my renter points expire on January 31st, 2021. February use year.

I’ve offered to roll the points into RCI.

I’ve also offered to re rent out the points at reduced rate and give them the proceeds (albeit they will likely experience a loss, but not total).

In addition, I’ve also used more points (25ish pts) than the original reservation to secure them a 2bd at beach club (it was originally 2 studios at BWV). They have not paid me yet for the extra points.

I do not think it’s fair for the owner to take a loss; I stayed in a studio instead of the usual 1 or 2bd so that we could have excess points to rent. These points could have been used for a family trip instead when we had gone in October.

I did not want to use the extra points that could be banked, but felt obligated to help. The 2bd bcv is more points than 2 studios at BWV.

I cannot make the decision for my renters on whether to go, roll points into RCI, or mitigate losses by re renting at a lower rate.

Rolling the points into RCI won't help your renter. You cannot rent an RCI trade. You'll have to book that RCI stay for you and your family.

You've already bent over backwards to help them twice and they have stiffed you on the 25 points. I'd say too bad. You can't do anything else to help them. They take the January trip after they have paid you the money they owe you for the extra points or you cancel the trip and the points are yours to do with as you wish.

 

[Minniesgal]

It would have been nice if my daughter had received the same information I learned here on this forum. Earlier in the year there were other options. Even now there may be other options but the owner doesn’t want to be bothered. We are annoying him. Renting points from an unknown party is a huge risk. You have zero control over the reservation I’m sorry that many of you owners rent out your points and have to go through all this mess too. I applaud those who go above and beyond to help someone. ❤

If the points are expiring there really are not other options

 

[suebeelin]

In

Rolling the points into RCI won't help your renter. You cannot rent an RCI trade. You'll have to book that RCI stay for you and your family.

You've already bent over backwards to help them twice and they have stiffed you on the 25 points. I'd say too bad. You can't do anything else to help them. They take the January trip after they have paid you the money they owe you for the extra points or you cancel the trip and the points are yours to do with as you wish.

I feel like the rented points are theirs to use as they wish, but it expires at the end of January. I did text recently to ask if they would like me to attempt to re-rent them (at between 12-13/pts) so they can mitigate their losses. They have not responded, so I honestly feel like I have done all that I can for them...

 

[starry_solo]

Thank you all. Please note my renter points expire on January 31st, 2021. February use year.

I’ve offered to roll the points into RCI.

I’ve also offered to re rent out the points at reduced rate and give them the proceeds (albeit they will likely experience a loss, but not total).

In addition, I’ve also used more points (25ish pts) than the original reservation to secure them a 2bd at beach club (it was originally 2 studios at BWV). They have not paid me yet for the extra points.

I do not think it’s fair for the owner to take a loss; I stayed in a studio instead of the usual 1 or 2bd so that we could have excess points to rent. These points could have been used for a family trip instead when we had gone in October.

I did not want to use the extra points that could be banked, but felt obligated to help. The 2bd bcv is more points than 2 studios at BWV.

I cannot make the decision for my renters on whether to go, roll points into RCI, or mitigate losses by re renting at a lower rate.

I would cancel one night to make up for those 25 points (I know they would cost more than that)...

 

[RamblinWreck]

I moved my renter's May 2020 reservations to May 2021.

50 of the points that were used for the booking couldn't be used for the 2021 trip. I did not refund them for those points, but I allowed them to rent the 50 extra points needed for next years trip for only the cost of maintenance.

Then I re-rented out the 50 points that were going to expire for cheap to try to cover my loss there.

 

[suebeelin]

I would cancel one night to make up for those 25 points (I know they would cost more than that)...

If they don't pay me, then so be it. They will then be paying about $15/pt instead of $17/pt. They have a 5 day vacation and will be traveling from NJ-- I don't want them to have only a 4 day vacay after traveling so far. And BCV is just so... vied for! I want them to go and enjoy. Part of renting is feeling that I'm doing a good thing, if that makes sense?

Hopefully, they will pay me the remainder when the time comes. I figure that I'm trying to do the right thing by them. If they cancel altogether, they will lose $3kish, which is a lot. Hopefully, they will be fair to me as well.

This covid thing has thrown a wrench on everyone's plans on every level (work, family, school, kids, vacations, etc). I get it-- they must feel like they are in a conundrum.

I just wish they could decide soon that they do not want to go on the trip so that I can rent out the points even if it's at a loss (it's going for between $12-14/pt now if used before Jan 2021, no?). They just never got back to me when I offered them this option. Maybe they just don't want to think about it?

 

[jerseygal]

If they don't pay me, then so be it. They will then be paying about $15/pt instead of $17/pt. They have a 5 day vacation and will be traveling from NJ-- I don't want them to have only a 4 day vacay after traveling so far. And BCV is just so... vied for! I want them to go and enjoy. Part of renting is feeling that I'm doing a good thing, if that makes sense?

Hopefully, they will pay me the remainder when the time comes. I figure that I'm trying to do the right thing by them. If they cancel altogether, they will lose $3kish, which is a lot. Hopefully, they will be fair to me as well.

This covid thing has thrown a wrench on everyone's plans on every level (work, family, school, kids, vacations, etc). I get it-- they must feel like they are in a conundrum.

I just wish they could decide soon that they do not want to go on the trip so that I can rent out the points even if it's at a loss (it's going for between $12-14/pt now if used before Jan 2021, no?). They just never got back to me when I offered them this option. Maybe they just don't want to think about it?

You sound like a more than fair owner who rents points!! I personally have never rented points, but if I did I would not be pleased with a renter who does not respond to a proposal, either yay or nay is what I would expect from a renter. This is like any other business transaction. I understand that you are trying very hard to be fair during these highly uncertain and stressful times, but at the same time you must look out for your own financial interests.

 

[Deb & Bill]

If they don't pay me, then so be it. They will then be paying about $15/pt instead of $17/pt. They have a 5 day vacation and will be traveling from NJ-- I don't want them to have only a 4 day vacay after traveling so far. And BCV is just so... vied for! I want them to go and enjoy. Part of renting is feeling that I'm doing a good thing, if that makes sense?

Hopefully, they will pay me the remainder when the time comes. I figure that I'm trying to do the right thing by them. If they cancel altogether, they will lose $3kish, which is a lot. Hopefully, they will be fair to me as well.

This covid thing has thrown a wrench on everyone's plans on every level (work, family, school, kids, vacations, etc). I get it-- they must feel like they are in a conundrum.

I just wish they could decide soon that they do not want to go on the trip so that I can rent out the points even if it's at a loss (it's going for between $12-14/pt now if used before Jan 2021, no?). They just never got back to me when I offered them this option. Maybe they just don't want to think about it?

I hope the self quarantine from NJ, NY and CT is off by January so they don't have to stay somewhere for 14 days before they check in on your reservation.

 

[suebeelin]

My renter asked that we re-rent these points at a small loss. Hopefully I can get them all rented by January 31, 2021! Thank you, everyone, for your advice!!